Funds Transfers
Transfer Funds to My Account
This service allows you to transfer funds immediately between your own accounts. You can use this service to transfer funds:
- Between your DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts
- Between your DBS Cashline and Credit or Charge Cards*
- To your Wealth Investment Multi Currency Settlement Accounts (MCSAs)
The crediting account can be your personal, joint-alternate, joint-all account or Trust-Minor/First account in Singapore Dollar or foreign currencies.
The debiting account can be your personal/joint-alternate deposit account or MCSA in Singapore Dollar or foreign currencies. Alternatively you can also use your DBS Credit or Charge card as the debiting account.
For funds transfer using Credit Card, there will be a Cash Advance Fee of 6% of the amount withdrawn (minimum charge of S$15) plus finance charge of 24% per annum (minimum charge of S$2.50) on the amount withdrawn, calculated on a daily basis from the date of withdrawal until receipt of full payment.
* The Credit Card limit shall apply.
Singapore Dollar Transactions
| When Transferring:
|
Example:
|
Submission & Processing Schedule:
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Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) |
Transfer From: Multi Currency Settlement Account #A
Transfer To: Multi Currency Settlement Account #B |
Available at any time of the day, and will be processed immediately. |
Between DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: POSB Savings Account
Transfer To: Multi Currency Autosave Account |
Available at any time of the day, and will be processed immediately. |
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) and DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: Multi Currency Settlement Account
Transfer To: POSB Savings Account |
Submission is available at any time of the day. Transactions will be processed immediately after submission except for the last day of the month, where transactions will only be processed the next day if the submission is made between 2000 hr and 0000 hr. |
- There is no maximum limit to the amount of funds you can transfer between your Singapore Dollar accounts. You can transfer up to the available balance in the 'From' account.
- You can also specify the funds to be transferred at a future date. Simply select future transfer type and enter the date of transfer. You can set future date funds transfer for up to 30 days from the day of transaction.
- For future dated transactions, your transaction will be effected on the date you have selected (Effective Date of Transfer). Your funds will be debited one working day before the Effective Date of Transfer.
- Funds Transfers made after 2330 hr (or 2030 hr on the last working day of the month) will not be available for next day's pre-scheduled deductions like GIRO items, cheque clearing, payment of loan instalment, etc.
Foreign Currency Transactions
| When Transferring:
|
Example:
|
Submission & Processing Schedule:
|
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) |
Transfer From: Multi Currency Settlement Account #A
Transfer To: Multi Currency Settlement Account #B |
Available at any time of the day, and will be processed immediately. |
Between DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: POSB Savings Account
Transfer To: Multi Currency Autosave Account |
Available for Submission between 0900 hr and 2100 hr on working days.
Do note that if the last day of the month falls on a working day, submissions made on that day will only be available between 0900 hr and 2000 hr.
Working days: Monday to Fridays, excluding Public Holidays
|
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) and DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: Multi Currency Settlement Account
Transfer To: POSB Savings Account |
Available for Submission between 0900 hr and 2100 hr on working days.
Do note that if the last day of the month falls on a working day, submissions made on that day will only be available between 0900 hr and 2000 hr.
Working days: Monday to Fridays, excluding Public Holidays
|
- There is a cap of S$200,000 equivalent on the amount of funds that you can transfer from your foreign currency account.
- Future dated transfer option is not available for MCA funds transfer but it is available for MCSA funds transfer.
- For future dated transactions, your transaction will be effected on the date you have selected (Effective Date of Transfer). Your funds will be debited one working day before the Effective Date of Transfer.
- Funds Transfers made after 2330 hr (or 2030 hr on the last working day of the month) will not be available for next day's pre-scheduled deductions like GIRO items, cheque clearing, payment of loan instalment, etc.
- Cross currency funds transfers between MCSA and Retail Banking accounts are supported.
Transfer Funds to Another DBS or POSB Account
- This service allows you to transfer funds immediately to another account within DBS or POSB.
You can use this service to transfer funds:
- Between DBS or POSB Singapore Dollar Account
- In foreign currencies between Multi-Currency Autosave (MCA) or Multi-Currency Settlement Accounts (MCSA)
- Between DBS Cashline and Credit or Charge Cards*
- Transfer Funds to Another DBS or POSB Account (One-Time) allows you to transfer funds immediately to another account within DBS or POSB without adding a recipient.
The debiting account can be your personal/joint-alternate deposit account. Alternatively you can also use your DBS Credit or Charge card as the "From" Account.
For funds transfer using Credit Card, there will be a Cash Advance Fee of 6% of the amount withdrawn (minimum charge of S$15) plus finance charge of 24% per annum (minimum charge of S$2.50) on the amount withdrawn, calculated on a daily basis from the date of withdrawal until receipt of full payment.
* The Credit Card limit shall apply.
Singapore Dollar Transactions
| When Transferring:
|
Example:
|
Submission & Processing Schedule:
|
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) |
Transfer From: Multi Currency Settlement Account #A
Transfer To: Multi Currency Settlement Account #B |
Available at any time of the day, and will be processed immediately. |
Between DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: POSB Savings Account
Transfer To: Multi Currency Autosave Account |
Available at any time of the day, and will be processed immediately. |
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) and DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: Multi Currency Settlement Account
Transfer To: POSB Savings Account |
Submission is available at any time of the day. Transactions will be processed immediately after submission except for the last day of the month, where transactions will only be processed the next day if the submission is made between 2000 hr and 0000 hr. |
- There is a default maximum limit of S$5,000 on the amount of funds you can transfer daily to another DBS or POSB accounts.
- You can also specify the funds to be transferred at a future date
- Simply select future transfer type and enter the date of transfer. You can set future date funds transfer for up to 30 days from the day of transaction.
- For future dated transactions, your transaction will be effected on the date you have selected (Effective Date of Transfer). Your funds will be debited one working day before the Effective Date of Transfer.
- Funds Transfers made after 2330 hr (or 2030 hr on the last working day of the month) will not be available for next day's pre-scheduled deductions like GIRO items, cheque clearing, payment of loan instalment, etc.
Foreign Currency Transactions
| When Transferring:
|
Example:
|
Submission & Processing Schedule:
|
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) |
Transfer From: Multi Currency Settlement Account #A
Transfer To: Multi Currency Settlement Account #B |
Available at any time of the day, and will be processed immediately. |
Between DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: POSB Savings Account
Transfer To: Multi Currency Autosave Account |
Available for submission between 0900 hr and 2100 hr on working days.
Do note that if the last day of the month falls on a working day, submissions made on that day will only be available between 0900 hr and 2000 hr.
Working days: Monday to Fridays, excluding Public Holidays |
Between Wealth Investment Multi Currency Settlement Accounts (MCSAs) and DBS/POSB Singapore Dollar and Multi-Currency Autosave Accounts |
Transfer From: Multi Currency Settlement Account
Transfer To: POSB Savings Account |
Available for submission between 0900 hr and 2100 hr on working days.
Do note that if the last day of the month falls on a working day, submissions made on that day will only be available between 0900 hr and 2000 hr.
Working days: Monday to Fridays, excluding Public Holidays
|
- Future dated transfer is not available for foreign currency transactions.
- You can only transfer foreign currencies between Multi-Currency Autosave (MCA) or Multi-Currency Settlement Accounts (MCSA). Transfers in foreign currencies between other foreign currency accounts are currently not available.
- Funds Transfers made after 2330 hr (or 2030 hr on the last working day of the month) will not be available for next day's pre-scheduled deductions like GIRO items, cheque clearing, payment of loan instalment, etc.
- Cross currency funds transfers between MCSA and Retail Banking accounts are supported.
Transfer Funds to Another Bank's Account (FAST)
FAST (Fast And Secure Transfers) is an electronic funds transfer service that enables customers to transfer SGD funds almost immediately from one participating bank to another in Singapore. FAST is available 24x7, 365 days.
Features
- FAST only enables funds transfer between accounts of the 14 participating banks in Singapore. Funds between a participating and a non-participating bank could be transferred through eGIRO.
- It will be offered by the following 14 banks:
- ANZ Bank
- CIMB Bank
- Citibank
- DBS / POSB Bank
- Deutsche Bank
- Far Eastern Bank
- HSBC
|
- Maybank
- OCBC Bank
- RHB Bank
- The Royal Bank of Scotland
- Standard Chartered Bank
- Sumitomo Mitsui Banking Corporation
- United Overseas Bank
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- Additional banks will be added on at a later date. When the transfer is successful, the payer will receive an SMS alert.
- The limit per transaction is S$200,000 which is set at the industry level and cannot be increased. You will still be able to use the current 3-day interbank transfer service after the launch of FAST.
Transfer Funds to Another Bank Account
This service allows you to transfer funds from your DBS or POSB account* or Credit Card to another bank's account in Singapore.
For funds transfer from Credit Card, there will be a Cash Advance Fee of 6% of the amount withdrawn (minimum charge of S$15) plus finance charge of 24% per annum (minimum charge of S$2.50) on the amount withdrawn, calculated on a daily basis from the date of withdrawal until receipt of full payment.
The Credit Card and Daily Funds Transfer Limit will apply for this service.
Features
- There is no service charge for Interbank funds transfer. This is not applicable for Foreign Currency Current Accounts.
- You have to first designate your recipient using the "Add New Other Bank Recipient" service, which can be found on the child links on the right hand side of your screen. After which, you may transfer funds to the bank account.
- As this service makes use of the Clearing & Settlement system for Interbank GIRO transactions, you will be able to transfer funds to the accounts of all GIRO Participating Banks.
- For funds transfer instructions submitted before 2000 hr on working days (Monday to Friday), the funds will be available to the recipient 2 working days later (e.g. funds transferred at 1600 hr on Monday will be available to the recipient on Wednesday).
- For funds transfer instructions submitted on Saturdays, Sundays and public holidays, the funds transferred will be available to the recipient 3 working days later if you submit the instruction before 2000 hr.
- Funds transfer instruction submitted after 8pm will be considered as next working day's transaction.
- You can transfer up to S$1,000 per day to other Bank's accounts. If you need to revise the daily limit downward, you may do so online using the Funds Transfer Limit Management service.
- Upon successful transfer for S$1,000 and above, an SMS notification will be sent to your registered mobile number.
- The status of the funds transfer, be it successful or unsuccessful, will be available to you under "Notifications" on the 3rd working day after the funds transfer. For unsuccessful funds transfer cases, your account will also be refunded on the same day (3 working days after the transfer).
- You can either transfer funds immediately or specify it to be transferred on a future date of up to 30 days from the date of transaction. To allow the transfer of funds via the Clearing & Settlement system for Interbank GIRO transactions, the Effective Date of Transfer specified must be a working day.
- For future transfers, your account will be debited 1 working day before the Effective Date of Transfer. Also, the funds will generally be available to the recipient 1 day after the Effective Date of Transfer.
View FAST Transaction History
This service allows you to view details on your FAST transfers.
Features
- You will be able to view your FAST Funds Transfer details, including Recipient Name, Account, Amount, and the Status of the transaction.
View or Delete Post-Dated Funds Transfer
This service allows you to view and manage all your pending post-dated Funds Transfers. To find out more about this service, please click here.
Change Local Transfer Limit
This service allows you to manage the daily total limit for all Funds Transfers from your account. To find out more about transfer limits, please click here.
Deactivate Funds Transfer Service
This service allows you to deactivate your Funds Transfer service via iBanking. To find out more, please click here.